Middle Market Businesses to Get Support from Congress
Representatives from Democratic and Republican parties have formed a bipartisan group, the Congressional Caucus for Middle Market Growth. The reason: 200,000 middle market businesses—companies with annual revenues between $10 million and $1 billion—are a major economic engine of the U.S. economy. They contribute one-third of non-government GDP and one-third of private sector employment. Middle market executives expect to grow employment by a rate of 3.2 percent over the next 12 months, higher than the ADP National Employment Report’s projections for small and large companies. That’s according to a forthcoming paper from The National Center for the Middle Market, a collaboration between the Ohio State University Fisher College of business and GE Capital. Such economic drive has been instrumental in the recovery, and the innovation shown by middle market companies in tough times deserves all the government support it can get in better ones.
John Howell, Editorial Director